Billionaire philanthropists Bill and Melinda Gates announced Monday that they will divorce after 27 years of marriage. 

"We no longer believe we can grow together as a couple in the next phase of our lives. We ask for space and privacy for our family as we begin to navigate this new life," read a joint statement. 

According to Reuters, the two met in 1993 when Melinda joined Gates' Microsoft company as a staffer. 

Years later, the two founded the Bill and Melinda Gates Foundation, the largest privately owned philanthropic organization in the world. 

The two have said they will continue to work together professionally. 

Melinda, 56, is a published author and women's empowerment activist.

Bill, 65, is ranked as Forbes' fourth-wealthiest man on the globe. He is estimated to be worth $125 billion.